June 17, 2024
Financial Results

Indo Count Industries Surpasses Rs. 2000 Crores Net Worth In FY24

Indo Count Industries Ltd, a leading global manufacturer of home textile bed linen, has announced its audited financial results for the fiscal year ending March 31, 2024. The company has achieved its highest-ever yearly revenue and EBITDA, marking a significant milestone in its financial performance. Indo Count’s net worth crossed Rs. 2000 crores, reaching Rs. 2,089 crores as of March 31, 2024, up from Rs. 1,793 crores the previous year.

Financial Highlights for FY24

  • Total Income: Rs. 3,601 Crores, reflecting an 18% year-over-year increase.
  • EBITDA: Rs. 603 Crores, up by 24% from the previous year.
  • Profit After Tax (PAT): Grew by 22% to Rs. 338 Crores.
  • Sales Volumes: Reached 96.8 million meters, a 30% year-over-year increase.

Q4 FY24 performance recorded a total income of Rs. 1,093 Crores, a 35% year-over-year growth, with a sales volume of 28.7 million meters, marking a 41% increase compared to the same period last year.

During the year, Indo Count acquired the Wamsutta brand, a leading national brand in the US, and secured licensing agreements with prominent US brands Fieldcrest and Waverly through Iconix Brand Group, Inc. These moves have significantly strengthened Indo Count’s brand portfolio and enhanced its position in the premium segment.

In line with its commitment to sustainability, Indo Count’s Bhilad plant now operates on 90% renewable energy. The company also debuted in the S&P Global 2022 ESG ratings with a score of 42, surpassing the industry average of 28. Additionally, Indo Count expanded its RO and ETP facilities, reducing fresh water intake by 25%.

The company’s efforts have been recognized with several awards, including the Gold Trophy from TEXPROCIL for the fifth consecutive year for made-ups exports. Indo Count also received three national awards from CITI for its exceptional sustainability practices.

Looking ahead, Indo Count projects its FY25 volumes to be between 110-115 million meters, with a margin guidance of 16%-18%. Anil Kumar Jain, Executive Chairman, remarked, “Our company has demonstrated remarkable performance in FY24. The strategic focus on moving towards value-added products, optimizing operations, and embedding robust ESG practices has been instrumental in driving our growth and maintaining our leadership position.”

Indo Count Industries Ltd. is a premier global manufacturer of home textile bed linen, known for its focus on fashion, institutional, and utility bedding. With an annual capacity of 153 million meters, the company has built a significant global presence and is consistently recognized for its commitment to quality and sustainability.

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